6.6 KiB
6.6 KiB
Disaster Recovery and Business Continuity Plan
Effective Date: ___ [Date] ___
Issued by: Midas Technologies LLC
This Disaster Recovery and Business Continuity Plan (“Plan”) outlines the procedures and protocols for Midas Technologies LLC to prepare for, respond to, and recover from disruptions, ensuring minimal impact on critical business functions, data integrity, and client services.
1. Purpose and Scope
- Purpose: The purpose of this Plan is to provide a framework for disaster recovery and business continuity to protect Midas Technologies LLC’s assets, including data, infrastructure, and personnel, and to ensure the swift resumption of critical business functions following a disruption.
- Scope: This Plan applies to all employees, contractors, and third parties responsible for business operations, technology infrastructure, and data handling at Midas Technologies LLC.
2. Critical Business Functions
Midas Technologies LLC identifies the following as critical business functions that must be prioritized during recovery efforts:
- Data Integrity and Access: Ensuring access to trading algorithms, data models, and financial records.
- Client Communications: Maintaining communication channels with clients and partners to inform them of the status and continuity of services.
- Infrastructure and System Functionality: Protecting key infrastructure, including servers, applications, and networks required for data analysis and trading operations.
3. Risk Assessment and Potential Threats
The following potential threats are addressed in this Plan:
- Natural Disasters: Floods, earthquakes, hurricanes, or other natural events that could disrupt operations.
- Cyber Threats: Malware, ransomware, phishing attacks, and data breaches that threaten IT systems and data security.
- Power and Network Failures: Interruptions to power supply or internet connectivity that may impact data access and operational continuity.
4. Backup and Recovery Protocols
- Data Backup: Data is backed up daily and stored on secure, encrypted cloud servers. Weekly full backups are conducted to preserve complete data records.
- Recovery Time Objective (RTO): The Company aims to restore critical functions within 24 hours following a disruption.
- Recovery Point Objective (RPO): Midas Technologies LLC aims to ensure data recovery up to the last backup point, typically within 24 hours of any event.
5. Communication Plan
- Internal Communications: In the event of a disruption, the designated response team will communicate with all employees, providing instructions and updates through email, messaging platforms, or emergency contact numbers.
- Client and Partner Notifications: Clients and partners will be notified of the disruption, its impact, and the expected timeline for recovery through official communication channels, including email and company website updates.
- Designated Spokesperson: The COO or another designated leader will serve as the spokesperson responsible for all external communications during a disaster.
6. Data Protection Measures
- Data Encryption: All data, both in transit and at rest, is encrypted using industry-standard protocols to ensure confidentiality and integrity.
- Access Control: Access to backup and recovery systems is restricted to authorized personnel. Two-factor authentication (2FA) is enabled for all accounts with access to backup data.
- Regular Testing: Backup systems and recovery protocols are tested semi-annually to validate data integrity and assess recovery capabilities.
7. Designated Personnel and Responsibilities
- Disaster Recovery Team: The Disaster Recovery Team (DRT) is responsible for activating and coordinating the Plan in response to a disruption. Team members include:
- IT Lead: Manages technical recovery operations, including system restoration, data recovery, and IT support.
- Operations Manager: Coordinates continuity efforts for business operations and manages communication with clients and partners.
- Compliance Officer: Ensures that all recovery activities comply with regulatory requirements and maintains documentation of the recovery process.
8. Testing and Maintenance of the Plan
- Annual Review: The Plan is reviewed annually to incorporate any changes in technology, personnel, or business structure.
- Testing: Disaster recovery simulations are conducted every six months to evaluate and improve response time, efficiency, and overall effectiveness.
- Employee Training: All employees receive training on their roles and responsibilities under this Plan. Key personnel participate in annual training to reinforce protocols and ensure readiness.
9. Plan Activation and Execution
- Plan Activation: In the event of a qualifying disruption, the DRT will assess the situation and determine whether to activate this Plan. Activation requires approval from the COO or designated authority.
- Execution Phases:
- Assessment: Evaluate the disruption's impact on business functions and determine immediate priorities.
- Recovery: Implement data recovery and infrastructure restoration procedures to resume critical functions.
- Communication: Notify employees, clients, and partners about the disruption status and recovery progress.
- Resolution: Monitor restored functions and ensure all systems are fully operational before closing the incident.
10. Post-Incident Review
- Debriefing: Following the resolution of a disaster or disruption, the DRT will conduct a post-incident review to assess response effectiveness and identify areas for improvement.
- Documentation: The DRT will document all recovery activities, decisions, and outcomes to provide a basis for future improvements and ensure compliance with regulatory requirements.
11. Acknowledgment of Disaster Recovery and Business Continuity Plan
- All employees and contractors are required to sign an acknowledgment of this Plan, confirming their understanding of and commitment to following disaster recovery and business continuity protocols.
Acknowledgment of Disaster Recovery and Business Continuity Plan
By signing below, I acknowledge that I have read, understand, and agree to comply with the Midas Technologies LLC Disaster Recovery and Business Continuity Plan.
| Employee’s Name | Signature | Date |
|---|---|---|